Additional Listing (2879Y)
December 20 2010 - 7:48AM
UK Regulatory
TIDMSLE
RNS Number : 2879Y
San Leon Energy PLC
20 December 2010
20 December 2010
San Leon Energy Plc
Additional Listing
San Leon Energy Plc ("San Leon" or the "Company") is pleased to
announce that application has been made for the admission to AIM of
13,967,440 new Ordinary Shares of Eur0.05 each in the Company
("Ordinary Shares"), as set out below.
Agreement with PGS
Further to the seismic services agreement entered into by San
Leon with PGS Ventures AS ('PGS Ventures') announced on 18
September 2009, PGS exercised its right to subscribe for a further
11,441,487 new Ordinary Shares on 15 December 2010 at a price of 15
pence to partially fund a seismic survey acquired by the Company
off the coast of Ireland (over its Slyne asset) during August
2010.
PGS Ventures has, furthermore, today informed the Company that,
on 17 December 2010, it sold 11,441,487 Ordinary Shares. Following
the issue of the 11,441,487 new Ordinary Shares resultant from the
above subscription PGS is expected to have a resultant net
unchanged position in the Company.
Agreement with Mazovia
On 15 November 2010 the Company announced that it had entered
into a binding agreement to acquire three additional concessions
for oil and gas reconnaissance and exploration from Mazovia Energy
Resources Sp. z o.o. ("Mazovia") for USD1.0 million in cash and
shares. 1,881,125 new Ordinary Shares the subject of the
application are expected to be issued at GBP 0.2525, being the
price at close of business on 14 December 2010, as settlement of
monies due under the sale agreement.
As part of the agreement with Mazovia the new Ordinary Shares to
be issued to Mazovia may not be sold for nine months from the date
of the completion of the transaction, being 14 November 2010.
Notwithstanding this agreement, Mazovia may sell such shares after
six months provided that Mazovia (a) obtains San Leon's prior
written consent; and (b) uses San Leon's broker for the sale.
Exercise of warrants
A further 644,828 new Ordinary Shares the subject of the
application have arisen pursuant to the exercise of warrants to
subscribe for Ordinary Shares.
Other matters
The new Ordinary Shares will rank pari passu with the Company's
existing issued Ordinary Shares and dealings are expected to
commence on 21 December 2010.
Following admission, the Company's enlarged issued share capital
will comprise 450,682,278 Ordinary Shares, with voting rights. The
Company does not hold any Ordinary Shares in treasury. Therefore
the total number of Ordinary Shares in the Company with voting
rights is 450,682 278, which figure may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FSA's Disclosure and Transparency Rules.
For the purposes of the Company's conditional placing of
331,313,333 new Ordinary Shares, announced on 7 December 2010, if
the resolutions are passed at the EGM to be held at 11.00 a.m. on
30 December 2010, the enlarged post-placing issued share capital of
the company is now expected to be 781,995,611 Ordinary Shares,
subject to any further ordinary course share issues prior to
admission of the placing shares.
For further information contact:
San Leon Energy Plc Tel: + 353 1291 6292
Oisin Fanning, Chairman
Philip Thompson, Chief Executive Officer
www.sanleonenergy.com
Arbuthnot Securities Tel: +44 20 7012 2000
Nick Tulloch
Ben Wells
College Hill Tel: +44 20 7457 2020
Nick Elwes
This information is provided by RNS
The company news service from the London Stock Exchange
END
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